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Saturday, February 3, 2018

Know more about SK Barua, new NRL MD

SK Barua, new NRL MD

SK Barua has taken over as the Managing Director of Numaligarh Refinery Ltd (NRL) with effect from January 31. Barua was selected by the Public Enterprise Selection Board and the Appointments Committee of the Cabinet had approved it on January 24.
With 33 years of rich and varied experience in the Indian oil and gas industry, Barua joined NRL as its first permanent employee in 1993, the year the... PSU was established.
Prior to his appointment as the Managing Director of NRL, he was serving as Director (Finance) in NRL.
Over the past 24 years in NRL, he has garnered vast experience of setting up a grassroots mega project starting from its conceptualisation, implementation, commissioning and operations thereafter.
“Barua has in-depth knowledge in areas of finance, treasury management and corporate finance, business development, commercial and legal, JVs and pipeline projects, corporate communication, administration and liaison,” a statement from NRL said.
He is the current chairman of the Confederation of Indian Industry (CII), Assam since 2015 and also the member of Regional Committee – EFP Assam.
”He was awarded Best CMA-CFO 2015 by Institute of Cost Accountants of India," the statement said.
He joined NRL as its first permanent employee in the year 1993, the year that the company was established. Over the last 24 years in NRL, he has garnered vast experience of setting up a grass root mega project starting from its conceptualization, implementation, commissioning and operations thereafter. He has in-depth knowledge in areas of finance, treasury management & corporate finance, business development, commercial and legal, JVs and pipeline projects, corporate communication, administration and liaison. Barua is the current chairman of Confederation of Indian Industry (CII), Assam since 2015 and also the member of Regional Committee- EFP Assam. He was awarded Best CMA-CFO 2015 by Institute of Cost Accountants of India.
The PSU achieved its best ever financial performance during his tenure as Director (Finance) owing to the strategic initiatives taken by him.
A resident of Dibrugarh, Assam, Barua did his schooling and college from Dibrugarh before moving out to Delhi to pursue Cost Accountancy.
Barua started his career in Indian Oil Corporation (Assam Oil Division) in 1985 and in year 1987, joined the Refinery and Petrochemical Division of Government of Assam.
His job was to identify and develop new oil and gas projects in the state, more particularly to implement the Assam Accord Refinery, thereafter named Numaligarh Refinery Limited. He was also a key team member in conceptualization of the prestigious Assam Gas Cracker project.
NRL is a Miniratna PSU,which is a subsidiary of BPCL. Bharat Petroleum Corporation Limited has 61.65 percent stake in the PSU. Govt. of Assam owns 12.35 percent whereas Oil India Limited has 26.00 percent stake in the PSU. Its major products include LPG, naphtha, motor spirit (MS), aviation turbine fuel (ATF) superior kerosene oil (SKO), high speed diesel (HSD), raw petroleum coke (RPC), calcined petroleum coke (CPC) and sulphur.